The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Family of 5 found dead in 3 separate locations

  • 3

    All-Korean showdowns set up on 1st day of medal race

  • 5

    Opposition party leader ends 24-day hunger strike for treatment

  • 7

    Exhibition for soldiers highlights North Korea's human rights abuses

  • 9

    Sil-A overcomes stage fright, and them some

  • 11

    Historic NASA asteroid mission set for perilous return

  • 13

    Hangzhou Asian Games open after COVID-enforced delay

  • 15

    Top diplomats of Korea, Iran discuss bilateral ties following frozen funds transfer

  • 17

    Korea's top-ranked Go player wants to capitalize on rare chance

  • 19

    EU does not want to decouple from China but must protect itself: EU trade chief

  • 2

    Xi says he will seriously consider visit to South Korea: official

  • 4

    Understanding Korean Modernization

  • 6

    Bears of Joseon part 1: Fanciful tales and deadly claws

  • 8

    US finalizes national security 'guardrails' for CHIPS funding

  • 10

    PM departs for China for Asian Games, meeting with Xi

  • 12

    Allies vow stern measures against Russia-NK arms deal

  • 14

    Korea looking to hit ground running on 1st day of medal events

  • 16

    League of Legends, other esports join Asian Games in competition for first time

  • 18

    Yoon returns home from New York trip

  • 20

    PHOTOSOpening ceremony of 19th Hangzhou Asian Games

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
Mon, September 25, 2023 | 02:51
Markets
Korea Exchange to toughen rules against unfair traders
Posted : 2023-01-31 14:20
Updated : 2023-02-01 15:22
Lee Min-hyung
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Korea Exchange Chairman Sohn Byungdoo speaks during a press conference held at its Seoul office, Tuesday. Yonhap
Korea Exchange Chairman Sohn Byungdoo speaks during a press conference held at its Seoul office, Tuesday. Yonhap

By Lee Min-hyung

The Korea Exchange pledged to root out any illegal and unfair trading practices by blocking violators' access to the local financial investment market for up to a decade, Sohn Byungdoo, head of the exchange, said Tuesday.

"We will thoroughly eradicate unfair trading practices by toughening rules against those caught for doing such acts," Sohn told reporters during a press conference. He admitted there was no legal basis for taking executive actions against any unfair trading practices, but added, "People engaging in unfair trading activities will be prohibited from creating new accounts and investing here for a maximum of 10 years."

The exchange operator also decided to streamline processes for monitoring naked short-selling. Presently, it takes more than a week for the exchange to uncover illegal trading practices. But this will be shortened to less than two days, according to the exchange. Naked short-selling refers to a trading act where investors sell stocks they don't own and haven't borrowed. It is illegal in Korea.

The Korea Exchange chief also promised to overcome local stocks' long-standing undervaluation against their global counterparts, frequently called the "Korea discount".

"We will help the local stock market achieve a major forward leap, and one of the top priorities toward the end is to build a trading environment that meets the global standard," Sohn said. "We will make a point of pushing for the revision of outdated dividend practices and mandating listed firms' English notifications to investors."

Under the drive, any KOSPI-listed firms with assets valued at more than 10 trillion won ($8 billion) will have to issue English-language notifications to investors starting next year. Listed firms with asset volumes exceeding 2 trillion won will also start following the same rule in 2026, according to the decision by the exchange.

On top of that, the exchange will also move forward the opening time of a derivative market here by 15 minutes to 8:45 a.m.

"If possible, most overnight market information abroad will be reflected in the derivative market before the opening of the stock market," he said. But it still remains to be seen when the drive will take effect.

The leader of the exchange also shared a rosy outlook for the local initial public offering (IPO) market for this year.

"IPO results remained weak in the main bourse due to unfavorable market conditions last year," he said. "But the outlook for this year doesn't seem as bad as last year's."


Emailmhlee@koreatimes.co.kr Article ListMore articles by this reporter
 
miguel
Top 10 Stories
1Korea, Saudi Arabia celebrate 93rd Saudi National Day, vow stronger cooperation Korea, Saudi Arabia celebrate 93rd Saudi National Day, vow stronger cooperation
2Samsung, SK relieved by revised chip restrictions on China Samsung, SK relieved by revised chip restrictions on China
3Bears of Joseon part 2: Behind bars Bears of Joseon part 2: Behind bars
4Seoul, Beijing try to mend fences as Russia and N. Korea grow closerSeoul, Beijing try to mend fences as Russia and N. Korea grow closer
5Mirae Asset Global Investments' AUM reaches $219 bil. Mirae Asset Global Investments' AUM reaches $219 bil.
6JTI Korea joins Jongno clean-up JTI Korea joins Jongno clean-up
7S. Korea to stage massive military parade as tensions with North remain highS. Korea to stage massive military parade as tensions with North remain high
8Patients, doctors at loggerheads as operating room CCTV footage made mandatoryPatients, doctors at loggerheads as operating room CCTV footage made mandatory
9CKD Kochon Foundation awards Ukraine health authorities for treating tuberculosis patients amid raging war CKD Kochon Foundation awards Ukraine health authorities for treating tuberculosis patients amid raging war
10Low growth becomes new normal for Korean economy Low growth becomes new normal for Korean economy
Top 5 Entertainment News
1TEMPEST gears up to showcase fiery passion TEMPEST gears up to showcase fiery passion
2[INTERVIEW] Yim Si-wan went extra mile to portray legendary athlete in 'Road to Boston' INTERVIEWYim Si-wan went extra mile to portray legendary athlete in 'Road to Boston'
3BLACKPINK's contract renewal still in limbo BLACKPINK's contract renewal still in limbo
4[INTERVIEW] Virtual K-pop group MAVE: is more than just pretty pixels INTERVIEWVirtual K-pop group MAVE: is more than just pretty pixels
5Hebrew University students travel to Korea to explore musical landscape Hebrew University students travel to Korea to explore musical landscape
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group